Neurology Clinical Trials Industry Overview
The global neurology clinical trials market size was estimated at USD 4.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. This is largely attributed to increasing neurological diseases, such as dementia, stroke, and peripheral neuropathy, and growing R&D investments in neurological research.
However, Covid-19 is an unprecedented event that has impacted practically every part of businesses throughout the world while the pharma industry is being tapped to help bring out an effective treatment against the pandemic at the earliest. Trial enrolment, data collecting, and data analysis were all disrupted, causing delays in ongoing clinical trials. As of April 15, 2020, a total of 81 trials with a specific neurological indication had been recognized as being impacted by the pandemic.
Gather more insights about the market drivers, restrains and growth of the Global Neurology Clinical Trials Market
Neuroscience is a focus area of several large pharma firms. Experimental Alzheimer's treatments from AstraZeneca, Lilly, Merck, Novartis, Pfizer, and Roche all failed in late-stage testing, while Biogen, a prominent neuroscience company, plans to persuade regulators to approve a drug that operates similarly to its peers failed attempt. After accomplishing Alzheimer’s disease, drug makers have turned their attention to other neurological diseases such as spinal muscular atrophy. Since the end of 2016, effective therapies from Biogen and Novartis have been authorized.
In contrast to the 1990s and early 2000s, drug makers now have better tools for manipulating and correcting genes. As a result, disorders caused by single genetic mutations, such as spinal muscular atrophy, appear to be easier to target and less risky attributes that might appeal to large corporations contemplating a return to neuroscience. For instance, Pfizer has entered the Duchenne muscular dystrophy through its acquisition of Bamboo Therapeutics, while Roche has shown interest in an Ion is Pharmaceuticals Huntington’s disease program.
Besides, technological innovations may improve the efficiency as well as productivity of neurology clinical trials through the use of increased patient engagement, and reduced patient burden long with the use of novel outcomes. New technologies such as virtual clinical trials, remote monitoring, and wearable devices may fulfill the goal of making clinical trials more patient-focused.
Browse through Grand View Research's Medical Devices Industry Research Reports.
- Clinical Trials Market - The global clinical trials market size was valued at USD 47.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. However, the market growth was hindered in 2020 due to the COVID-19 pandemic.
- Neurology Devices Market - The global neurology devices market size was valued at USD 6.2 billion in 2014. Growing advancement in the field of imaging technologies and the consequent development of neurosurgical endoscopy devices are likely to drive growth over the forecast period.
Neurology Clinical Trials Market Segmentation
Grand View Research has segmented the global neurology clinical trials market based on phase, study design, indication, and region:
Neurology Clinical Trials Phase Outlook (Revenue, USD Million, 2016 - 2028)
- Phase I
- Phase II
- Phase III
- Phase IV
Neurology Clinical Trials Study Design Outlook (Revenue, USD Million, 2016 - 2028)
- Interventional
- Observational
- Expanded Access
Neurology Clinical Trials Indication Outlook (Revenue, USD Million, 2016 - 2028)
- Epilepsy
- Parkinson's Disease (PD)
- Huntington's Disease
- Stroke
- Traumatic Brain Injury (TBI)
- Amyotrophic Lateral Sclerosis (ALS)
- Muscle regeneration
- Others
Neurology Clinical Trials Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- January 2021: Sosei, based in Japan, and Pharm Enable, based in the U.K., partnered to develop new drugs for a G protein-coupled receptor (GPCR) target linked to a number of neurological disorders.
Key Companies profiled:
Some prominent players in the global neurology clinical trials market include
- Novartis
- Covance
- Medpace
- Charles River Laboratories
- Syneous Health
- Icon Plc
- GlaxoSmithKline
- Aurora healthcare
- Biogen
- IQVIA
Order a free sample PDF of the Neurology Clinical Trials Market Intelligence Study, published by Grand View Research.
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